The Oxford Colleges' Accounts:
Summary of Statements I to V
for financial year ended 31st July 2002

INDEX: I Consolidated revenue statement, II Statutory endowment income and college contribution,
III Endowment account, IV & V Education & research account and Internal account.

I. CONSOLIDATED REVENUE STATEMENT

2000-01 £INCOME.2001-02 £
. From endowments and other funds:..
53,144,114 Net income as shown in Statement III 50,264,685 .
2,783,161 Less: College contribution (Statement III) 2,850,332 .
50,360,953..47,414,353
. . . .
122,023,460 From fees, dues and charges (including room rents) 128,326,416 .
29,099,704 Less: Collected on behalf of the University 31,298,789 .
92,923,756..97,027,627
. From grants and donations: . .
637,586 From the University 801,115 .
483,945 From other Oxford colleges 498,488 .
4,430,957 From outside sources 4,824,092 .
. .. 6,123,695
. From other sources . .
1,641,398 Various 1,728,675 .
. .. 1,728,675
________ . . ________
150,478,595 Total income . 152,294,350
. . . .
. EXPENDITURE . .
. For the college's own purposes: . .
. Other than on premises: . .
71,776,844 (i) Education and Research (Statement IV) 76,333,372 .
48,087,310 (ii) Internal (Statement V) 49,666,021 .
28,589,800 On college premises (Statement III) 26,839,740 .
148,453,954 . . 152,839,133
. . . .
1,037,166 For other purposes, excluding college contribution (Statement III) . 893,625
________. .________
149,491,120 Total expenditure . 153,732,758
. . . .
. SURPLUS/(DEFICIT) FOR YEAR carried to Statement VI . .
. Trust funds of which, under the terms of trusts, there was: . .
672,658 (a) available for the college's general purposes . 284,840
714,730 (b) carried forward for the trust purposes . (389,485)
________. .________
1,387,388 . . (104,645)
2,094,046 Reserves and special funds . 1,737,529
(2,493,959) Revenue account . (3,071,294)
987,475 . . (1,438,411)
. Attributable to: . .
31,003,426 Endowment (Statement III) 29,092,142 .
(26,231,553) Education and Research (Statement IV) (27,602,143) .
(3,784,398) Internal (Statement V) (2,928,410) .
987,475 . (1,438,411) .

II. STATUTORY ENDOWMENT INCOME AND COLLEGE CONTRIBUTION

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2000-01 £GROSS INCOME.2001-02 £
. From all relevant sources except trusts of which the college is not the sole trustee: . .
. Rent: . .
5,788,009 Agricultural land . 6,186,572
. Non-agricultural land . .
8,649,412 Let on terms that tenant not responsible for structural repairs . 10,386,248
15,528,633 Let on other terms . 16,013,472
487,222 Gross value for rating purposes of college houses outside
the curtilage occupied by the head, fellows or employees		 . 528,831
25,908 Income from timber . 4,000
301,194 Income from minerals and mineral rights . 301,075
36,584,780 Interest and dividends . 31,563,521
3,148 Underwriting commissions . .
44,790 Copyright royalties . 54,000
. Other income: . .
890,343 Various . 852,762
________..________
68,303,439 . . 65,890,481
. Less . .
89,862 Amount (if any) of income included above which has to be appropriated to funds
established, with the approval of the College Contributions Committee, under Section 29 of
the Universities and College Estates Act, 1923 (as amended) but not separately invested		 89,546 .
615,324 Amounts which must be applied by the college as sole trustee for purposes wholly outside the
objects of the college out of the income and in compliance with the terms, of trusts of which
the income is included above as being in part applicable for the benefit of the college		 534,962 .
705,186 . . 624,508
. From trusts of which the college is not sole trustee: . .
715,529 Income paid to the college by the trustees or applied by them to any purpose of the college . 753,676
________..________
61,313,712 Total of gross income from endowments and other sources as shown in Statement III . 66,019,649
. . . .
. PERMISSIBLE DEDUCTIONS . .
. (a) Standard deductions: . .
1,447,003In respect of the full amount of rents from agricultural land 16,186,572 @25% 1,546,645 .
3,459,765 In respect of the full amount of rents from non-agricultural land let on terms
that tenant not responsible for structural repairs		 10,386,248 @40% 4,154,499 .
1,601,587 In respect of the full amount of rents from non-agricultural land let on other terms
(including, at gross value for rating purposes, college houses outside
the curtilage occupied by the head, fellows or employees) 		16,542,303 @10% 1,653,22 .
1,830,129 In respect of the gross amount of interest and dividends 3l,563,521 @5% 1,581,497 .
.(b) In respect of leaseholds:. .
399,822 (i) Rent payable 464,804 .
50,444 (ii) Amortization of lease premium 52,912 .
1,906,994 (c) Interest 2,229,732 .
874,246 (d) Allowances for exceptional obligations 872,566 .
________ .________.
11,569,990 . . 12,556,077
56,743,792 STATUTORY ENDOWMENT INCOME . 53,463,572
. . . .
. CONTRIBUTION PAYABLE . .
. On 27,633,670 Nil .
. On 2,128,823 at 4.0% 85,153 .
. On 1,973,760 at 8.0% 157,901 .
. On 21,727,317 at 12.0% 2,607,278 .
. On 53,463,572 2,850,332 .

III. ENDOWMENT ACCOUNT

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2000-01 £ INCOME . 2001-02 £
68,313,782 Gross income from endowment and other sources as shown in Statement II . 66,019,649
(46,081) Surplus/(deficit) on home farms and farms, sporting rights, etc., in hand after deducting
rental value included in gross income above and any relevant expenses not taken into account below		 . (49,316)
(67,599) Rents, less rental value included in gross income above, in respect of rateable hereditaments
outside the curtilage of the college occupied by a head, a fellow or an employee of the college		 . (55,891)
________.. ________
68,200,102 . . 65,914,442
. Less: Expenses of obtaining that income: . .
359,434 Rent, rates, taxes and insurance (less commission) 462,899 .
1,591,327 Provision for major repairs 1,019,316 .
1,448,792 Other repairs and maintenance 1,873,350 .
1,842,104 Amortization and depreciation 1,900,496 .
4,882,223 . 4,793,162 .
. . . .
7,113,246 Agency, management and administration 7,139,314 .
14,315 Donations and subscriptions in connection with estates 12,037 .
17,652 Entertainment of tenants and others 32,748 .
. Other expenses: . .
2,669,118 Various 3,209,597 .
________.________ .
15,055,988 . . 15,649,757
53,144,114 Net income as shown in Statement I . 50,264,685
. . . .
. AMOUNTS PAYABLE OUT OF ABOVE NET INCOME OTHERWISE
THAN FOR THE COLLEGE'S OWN PURPOSES		 . .
2,783,161 College contribution (Statement II) 2,850,332 .
. Donations and subscriptions: . .
105,278 (i) for University objects 100,813 .
128,713 (ii) Other 122,420 .
11,516 Livings 7,662 .
12,355 Maintenance of schools 12,300 .
. Other: . .
779,304 Various 650,430 .
1,037,166 . 893,625 .
________ .. ________
3,820,327 . . 3,743,957
49,323,787 Net income available for college's own purposes . 46,520,728
. Less: Amount of trust fund income transferred to Statement IV and V
equivalent to expenditure from trusts included in those Statements.		 . .
8,071,728 Statement IV 8,760,918 .
88,093 Statement V 190,221 .
________.________.
8,159,821 . . 8,951,139
41,163,966 BALANCE AVAILABLE FOR THE COLLEGE'S OWN PURPOSES . 37,569,589
. . . .
. EXPENSES OF COLLEGE PREMISES AND AEDES ANNEXAE . .
. Repair and maintenance of fabric and exterior of buildings: . .
5,955,164 (i) Provision for major repairs 3,760,308 .
2,148,584 (ii) Other repairs and maintenance 2,380,175 .
3,014,786 (iii) Amortization and depreciation 3,188,242 .
________.________ .
11,111,134 . 9,328,725 .
. . . .
1,748,956 Upkeep of gardens and grounds 1,860,910 .
12,867,490 . . 11,189,635
. All other building repairs and maintenance (including interior redecoration): . .
5,263,330 (i) Provision for major repairs 4,705,708 .
8,202,133 (ii) Other repairs and maintenance 8,607,750 .
823,431 Rent 870,462 .
515,777 Rates and taxes 413,800 .
917,639 Insurance (less commission) 1,052,385 .
15,722,310 . . 15,650,105
28,589,800.. 26,839,740
. Less: Contribution from Statements IV and V: . .
2,706,950 (i) For upkeep of fabric, gardens and grounds (based on standard formula) 2,712,188 .
15,722,310 (ii) For other expenses 15,650,105 .
18,429,260 . . 18,362,293
10,160,540 . . 8,477,447
. . . .
31,003,426 SURPLUS/(DEFICIT) . 29,092,142

IV. EDUCATION AND RESEARCH ACCOUNT
V. INTERNAL ACCOUNT

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>
2000-01 £
IV Ed&Res		2000-01 £
V Internal		INCOME 2001-02 £
IV Education
& Research		2001-02 £
V Internal		2001-02 £
Total
. . Fees (other than those collected for the University) . . .
28,328,399 6,803,338 Consolidated 29,580,532 7,028,012 36,608,544
3,214,987 . (ii) Tuition 3,675,989 . 3,675,989
2,870,948 2,063,070 (iii) Dues and establishment charges 3,003,606 2,175,132 5,178,738
24,934 . (iv) Degree 23,854 . 23,854
185,700 . (v) Library 216,601 . 216,601
450,202 450,202 (vi) Other 413,810 149,144 562,954
________ ________ . ________________________
35,075,170 9,036,240 . 36,914,392 9,352,288 46,266,680
. . . . . .
923,922 41,904,045 Charges for accommodation (including notional room rents), meals & service 1,005,138 43,590,365 44,595,503
. 3,590,313 Rents from furnished accommodation outside the college occupied by student members . 3,771,385 3,771,385
. 2,394,066 Sales from buttery and stores . 2,394,059 2,394,059
________ ________ . ________________________
35,999,092 *56,924,664 . 37,919,530 *59,108,09797,027,627
. . . . . .
8,071,728 88,093 Amount of trust fund income available only for expenditure dealt with
in this account (transferred from Statement III)		 8,760,918 190,221 8,951,139
. . . . . .
. . Research grants: . . .
39,481 . (i) From the University 49,544 . .
. . (ii) From other Oxford colleges . . .
2,410,853 . (iii) From outside sources 2,687,324 . .
2,450,334 . . 2,736,868 . .
. . . . . 2,736,868
. . Other Grants and contributions . . .
598,105 . (i) From the University 751,571 . .
483,945 . (ii) From other Oxford colleges 498,488 . .
2,020,104 . (iii) From outside sources 2,136,768 . .
3,102,154 . . 3,386,827 . .
. . . . . 3,386,827
. . . . . .
. . Charges to other accounts: . . .
. 17,652 Statement III: Entertainment of tenants and others . 32,748 .
. 2,275,681 Statement IV: Common Table . 2,312,460 .
. 1,726,347 Statement IV: College hospitality . 1,796,553 .
. 4,019,680 . . 4,141,761 .
. . . . . 4,141,761
. . Other income . . .
1,243,294 398,104 Various 1,354,232 374,443 1,728,675
________ ________ . ________________________
50,866,602 6l,430,541 Total income 54,158,375 63,814,522 117,972,897
. . . . . .
..* NOTE: Charged to...
. 42,114,423 Members and employees of the college . 44,656,167 .
. 3,646 Other colleges . 3,451 .
. 14,806,595 Others (conferences etc.) . 14,448,478 .
. ________ . . ________ .
. 56,924,664 . . 59,108,096 .
. . . . . .
..EXPENDITURE.. .
2,278,870 . Head of College 2,455,878 . 2,455,878
20,802,778 . Teaching fellows 22,053,412 . 22,053,412
4,675,133 . Other fellows 5,151,390 . 5,151,390
3,020,043 . Stipendiary lecturers 3,593,777 . 3,593,777
2,769,711 . Outside tuition payments 2,872,550 . 2,872,550
3,443,300 . Other tuition and research expenses (including research assistants) 3,602,408 . 3,602,408
2,275,681 . Common Table 2,312,460 . 2,312,460
3,918,930 . Library 4,286,493 . 4,286,493
. . Research studentships, scholarships, exhibitions, prizes, grants: . . .
1,901,575 . (i) Provided from trust funds 2,094,122 . .
2,670,372 . (ii) Provided otherwise 3,051,050 . .
4,571,947 . . 5,145,172 . 5,145,172
. . . . . .
433,480 . Examiners and examination expenses (including fees
paid to the Oxford Colleges Admissions Office)		 406,382 . 406,382
991,166 . Chaplain and chapel services 1,174,219 . 1,174,219
1,726,347 . College hospitality 1,796,552 . 1,796,552
1,689,130 . Junior clubs 1,828,553 . 1,828,553
156,962 . Subscriptions and donations to the college's own academic objectives 55,953 . 55,953
. 10,488,081 Catering supplies consumed (less sale of waste). 10,885,753 10,885,753
. 198,297 Outside caterers' and other colleges' charges . 226,503 226,503
..Services:...
4,335,799 21,468,972 (i) Domestic staff 4,548,351 22,900,443 27,448,794
1,157,911 3,425,732 (ii) Heat, light, water 1,074,297 3,041,200 4,115,497
425,533 1,905,309(iii) Laundry and cleaning 411,974 1,833,612 2,245,586
1,790,169 4,259,214 (iv) Repair, renewal, insurance (less commissions) and
depreciation of furniture and equipment		 1,936,247 4,259,835 6,196,082
7,709,412 31,059,227 . 7,970,869 32,035,090 40,005,959
. .Administration: . . .
1,644,880 1,447,587 (i) College officers and others 1,768,593 1,607,709 3,376,302
5,270,186 4,968,716 (ii) Office and clerical staff 6,062,173 5,270,186 11,332,359
1,882,120 1,389,291 (iii) Office expenses 1,870,304 1,385,359 3,255,663
347,068 324,789 (iv) Legal and professional charges 362,771 385,776 748,547
________ ________ . ________ ________ ________
9,559,946 8,130,383 . 10,063,841 8,649,030 18,712,871
. . . . . .
231,472 275,299 Pensions paid to former members and employees of the college 158,188 266,008 424,196
1,522,536 1,955,703 Other expenses 1,405,275 1,745,398 3,150,673
________________. ________________________
71,776,844 52,106,990 . 76,333,372 53,807,782 130,141,154
..College premises:...
5,321,311 13,107,949 Contribution to Statement III for repair and maintenance, rent, rates, taxes, insurance 5,427,146 12,935,150 18,362,296
________ ________ . ________________________
77,098,155 65,214,939 . 8l,760,518 66,742,932 148,503,450
. . . . . .
(26,231,553) (3,784,398) SURPLUS/(DEFICIT) (27,602,143) (2,928,410) (30,530,553)

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